Iceberg Order
An iceberg order is an order structure in which only part of the total order quantity is displayed publicly while additional quantity remains hidden and may be replenished as the visible portion executes.
Why it matters to you
Visible order book depth does not always show the full amount of buying or selling interest present at a price. Repeated execution at a level without exhausting the available liquidity can sometimes lead traders to investigate whether hidden or replenishing liquidity is present.
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